Question

AT WHAT RATE PERCENT PER ANNUM COMPOUND INTEREST WILL RS.2304 AMOUNT TO RS.2500 IN 2YEARS?
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Answer 1

Step-by-step explanation:

here is your answer

HAVE A NICE DAY

Answer 2

GIVEN :-

Amount =₹ 2500

Principal = ₹ 2304

Time = 2 year

To FIND :-

Rate = r %

SOLUTION:-

$\sf \: Amount \: = Principal \bigg(1 + \frac{rate\%}{100} \bigg)^{time}$

$\sf \: 2500 = 2304(1 + \frac{r}{100} ) ^{2}$

$\sf \: \frac{2500}{2304} = (1 + \frac{r}{100} )^{2}$

$\bigg(\frac{50}{48} \bigg )^{2} = (1 + \frac{r}{100} )^{2}$

$\sf \: Taking \: square \: root \: both \: sides \rightarrow$

$\sf \frac{50}{48} = 1 + \frac{r}{100} \\ \\ \implies \sf \: \frac{50}{48} - 1 = \frac{r}{100} \\ \\ \implies \sf \: \frac{2}{48} = \frac{r}{100} \\ \\ \implies \sf r = \frac{100 \times 2}{48} \\ \\ \implies \sf \: r = \frac{25}{6} \: \: \: \\ \\ \implies \sf \: r = 4 \frac{1}{6} \%$

Hence

$\sf \: Rate \: = 4 \frac{1}{6} \%$